Movers and Shakers 1-7-99

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SCREAMER: SkyMall (SKYM)
skym
shares soared 7 5/8 to close at 25 1/4 Thursday after the company formed a new Internet shopping unit, SkyMall.com, and named a veteran sales executive to direct it. See Screamers story.

Stocks to watch

AlphaNet Solutions (ALPH)
ALPH, +0.00%
plans to reduce its nontechnical work force in order to cut expenses by $2.5 million. The information technology product provider also said it expects fourth-quarter product sales of between $24.5 million and $25.5 million, down "significantly" from the $42.6 million in sales in the same period last year. Shares closed flat at 3 1/2.

Cendant (CD)
CD, +0.00%
announced that the company reached a preliminary agreement to settle a class-action suit filed against it. It said that if the settlement takes effect, the company will take an after-tax charge of $220 million, or 26 cents a share, in the fourth quarter.Cendant shares rose 1/2 to close at 19 15/16. See full story.

Compuware (CPWR)
cpwr
shares may rise after the software company set a 2-for-1 stock split in February. Ahead of the news, shares fell 4 5/8 to 69 1/2.

Coldwater Creek (CWTR)
cwtr
shares may rise Friday after the specialty direct-mail retailer's third-quarter earnings came in at 43 cents a share, 3 cents above the First Call consensus estimate. In the quarter, the company said, activity and sales from its Web site increased "substantially." Shares fell 3/8 to 9 7/8 ahead of the news.

Hibbett Sporting Goods (HIBB)
HIBB, -1.41%
announced same-store sales for the first nine weeks of the fourth quarter fell 2.9 percent due to unusual weather patterns and it anticipates flat or negative sales for the quarter. The sporting goods retailer also said it expects fourth-quarter earnings to be below the consensus estimates. Hibbett shares rose 3 7/8 to 27 1/2 ahead of the release.

IEC Electronics (IECE)
iece
projects a loss of 30 to 32 cents a share in the fiscal first quarter, well below the Zacks estimate ofa loss of 16 cents. Revenue for the quarter is expected to be between $35 million and $37 million. Shares of the contract manufacturer were flat at 4 13/16 ahead of the news. See Tech Report.

Interface (IFSIA)
ifsia
shares may come under pressure after the company said it expects fourth-quarter earnings between 18 and 22 cents a share, before a restructuring charge partly due to moderating commercial carpet demand. Analysts expected the carpet manufacturer to earn a profit of 29 cents. The company also said it will record a pretax restructuring charge of $24 million, or 34 cents a share, related to consolidations and job cuts. Before the release, shares fell 3/32 to 8 15/16.

Odwalla (ODWA)
odwa
incurred a loss of 9 cents a share in the fiscal first quarter, falling well short of the Wall Street estimate of a 2-cent profit. The fruit- and vegetable-based beverage maker noted that the California citrus-crop freeze may affect prices through the remainder of 1999 and lead to further operating losses. Shares traded flat at 6 3/4 ahead of the news.

Scientific-Atlanta (SFA)
SFA, +0.00%
said revenue will be about $308 million, better than the expected $262 million. Revenue for the quarter, it said, will also surpass last year's second-quarter total of $294.5 million. The earnings estimate for the quarter is 6 cents a share. The company attributed the increase to higher-than-expected domestic sales of its digital set-tops and network transmission products. See related story.

The Sports Authority (TSA)
TSA, +13.42%
warned investors that, due to decreased sales, earnings for the fourth quarter will be "substantially" below the consensus estimate. The company projects a slight profit, while analysts currently expect a profit of 32 cents a share. Shares rose 1/16 to 5 1/4 ahead of the release.

U.S. advancers

Adaptec (ADPT)
ADPT, +0.84%
shares jumped 5 5/16 to close at 24 7/8 after the company said it expects third-quarter earnings to hit or even exceed 20 cents a share, 6 cents above the First Call consensus estimate.The company cited factors such as robust demand for the company's bus adapter and software products, strong product shipments, and reduced expenses.See Tech Report.

Brightpoint (CELL)
CELL, +0.00%
shares rose 1 3/4 to 18 9/16 after the company announced restructuring changes. The company said it will take a charge of $25.6 million, or 36 cents a share, for closing its trading unit and writing down other assets. Excluding the charges, the company said fourth-quarter earnings will range between 22 cents to 24 cents a share. The current consensus estimate is a profit of 24 cents a share.

Data Race (RACE)
race
shares rose 1 1/4, or 31 percent, to 5 1/4 after the company announced it's working with Microsoft (MSFT)
MSFT, -0.74%
on new Windows-compatible modem technology for palm-size PCs. See full story.

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